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Dec 7, 2012
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raising taxes would. there's no question about it, but if the problem is that we have a lot of debt and there has to be some pain, whether in cuts or the form of higher tax revenues, that means there has to be pain. look at the math. $2.8 trillion to go back to the clinton era rates. that's 17% of debt wiped out overnight. if you're worried about the debt, how can't you look at that seriously? >> the reason i would say it's not 17% of our debt because right now we have a trillion dollar deficit every single year. if we went back to zero, that's true. right now with fourth year in a row with over a trillion dollars in deficit spending, that deficit and debt continues it to climb. it doesn't wipe it out. what does it do to the overall economy. we're not just dealing with one tax increase right now. the affordable care act actually begin on january 1st as well for people making $200,000 or more or people with large medical bills. that already starts coming up. this is an additional tax increase on top of tha
raising taxes would. there's no question about it, but if the problem is that we have a lot of debt and there has to be some pain, whether in cuts or the form of higher tax revenues, that means there has to be pain. look at the math. $2.8 trillion to go back to the clinton era rates. that's 17% of debt wiped out overnight. if you're worried about the debt, how can't you look at that seriously? >> the reason i would say it's not 17% of our debt because right now we have a trillion dollar...
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Nov 30, 2012
11/12
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talking about increasing taxes, letting the tax rate go up on people making over $250,000 a year. as i understand it, that's about $85 billion a year, funding the government for eight days. $85 billion is a lot of money, but if you look at government waste, even senator tom coburn has identified $20 billion in waste. has anybody thought about getting the revenue from waste, seeing just how much we really need? >> the problem has usually been if you rdise taxes, the spending cuts will come later, and they never seem to manifest. >> greta: but not even spending cuts. actually waste. >> well, yeah, waste and fraud and abuse are the famous three horsemen of cuts. but the fact is that many times they're harder to get to it would afternoon. i think tom coburn has done a great service by identifying a lot of duplication and waste in the government, including in the pentagon. i'm a defense hawk, but the pentagon needs to do a better job when it comes to handling the people's money too. you can't close that gap between spending and the debt by just raising taxes on the two upper income tax
talking about increasing taxes, letting the tax rate go up on people making over $250,000 a year. as i understand it, that's about $85 billion a year, funding the government for eight days. $85 billion is a lot of money, but if you look at government waste, even senator tom coburn has identified $20 billion in waste. has anybody thought about getting the revenue from waste, seeing just how much we really need? >> the problem has usually been if you rdise taxes, the spending cuts will come...
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Dec 6, 2012
12/12
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our conversation in washington we talk about it being a tax event and only tax event. but the impact on unemployed people will be dramatic. the impact on those americans who don't pay a lot of income tax but benefitting from the extra two points of payroll relief, may not be dramatic but noticeable. this country could go into a recession. what's going on in this discussion is richard nixon's old madman theory, each side trying to persuade the other that it's just crazy enough to blow up the world. >> erick, quickly, you say it's better to go over the cliff than accept what the president's offered? >> yeah. i absolutely think so. the republicans unfortunately for people like me are willing to raise taxes to the tune of $800 billion. the democrats want to argue with them over the mechanism. and it's the mechanism that would hurt small businesses. the republican negotiating hand winds up being a little better on the other side. the fiscal cliff is the maximum of what ghkts want. you've got howard dean saying we need to raise taxes on everybody, not just the rich. steny ho
our conversation in washington we talk about it being a tax event and only tax event. but the impact on unemployed people will be dramatic. the impact on those americans who don't pay a lot of income tax but benefitting from the extra two points of payroll relief, may not be dramatic but noticeable. this country could go into a recession. what's going on in this discussion is richard nixon's old madman theory, each side trying to persuade the other that it's just crazy enough to blow up the...
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i want to be paying more taxes. i want our taxes to go to serve the policies of the country, education, charity, health care. i think that president obama's right about this. but i think compromise is going to be necessary to achieve some result. >> let me bring in abbe. your father is known as a moderate republican and a good dealmaker, a man who used to negotiate. what do you make of this? and what does he make of this? >> i think morale is so low right now. the country's so divided. especially for my generation. we're the ones that are going to be handed down the $60 trillion defic deficit. they will come to a deal. but right now, it's political theater. and it's probably going to look like the simpson-bowles. that will come full-circle again. >> here's a problem the republicans have got themselves into. is obama has been very clever here, the president. i think what he's done is skillfully said to the public, if he goes over the fiscal cliff, the republicans are prepared to make the entire middle class to pay mo
i want to be paying more taxes. i want our taxes to go to serve the policies of the country, education, charity, health care. i think that president obama's right about this. but i think compromise is going to be necessary to achieve some result. >> let me bring in abbe. your father is known as a moderate republican and a good dealmaker, a man who used to negotiate. what do you make of this? and what does he make of this? >> i think morale is so low right now. the country's so...
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deadly timothy geithner can say oh you know what don't withhold is much from their paychecks as these tax cuts adjusted expired would have typically do but he doesn't want you know it's you know this is interesting because it's a star and i just have to say though that this is an example given is like a look we're not. totally in trouble if the u.s. goes off the fiscal cliff i think we are in trouble if the treasury secretary is this much authority over what with how problematic a good the treasury this is the first will close all the stuff you want to like it's like turning your watch back two hours and you wake up in the morning oh my god i'm leaving my point by half an hour oh wait nevermind i move my clock back two hours like these guys always have emergency parachute after by lightening your first call but will know like fiscal like i don't know where it's daylight savings are going to soon in part anyway lauren all right we have a three zero evidence about our facebook page don't forget the facebook page guys ok why do you like me how do you know i bought it because that is all we h
deadly timothy geithner can say oh you know what don't withhold is much from their paychecks as these tax cuts adjusted expired would have typically do but he doesn't want you know it's you know this is interesting because it's a star and i just have to say though that this is an example given is like a look we're not. totally in trouble if the u.s. goes off the fiscal cliff i think we are in trouble if the treasury secretary is this much authority over what with how problematic a good the...
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Nov 30, 2012
11/12
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you have to sort of address the tax rate. we cannot have a tax rate locked in where they starve the government so that the middle class has to sort of pay more of the share for the burden of government, and you know what, we end up cutting away those programs, those things that help grow opportunity for the middle class. the number one problem with our country right now is sort of the shrinking and burden on the middle class. if we want to sort of expand the middle class and grow the middle class, the last thing we can do is sort of put more of that burden on them as opposed to asking the wealthy people to pay their fair share, like what they paid in the clinton administration. >> okay, cornel, let me say this. >> mary, hold on. you are saying the president has not offered any specifics. he is offering some specific cuts in entitlement spending, medicare spending, saving about $400 billion. the republicans have their own ideas. why not let the republicans come out with their priorities, tell us what their ideas are, then you
you have to sort of address the tax rate. we cannot have a tax rate locked in where they starve the government so that the middle class has to sort of pay more of the share for the burden of government, and you know what, we end up cutting away those programs, those things that help grow opportunity for the middle class. the number one problem with our country right now is sort of the shrinking and burden on the middle class. if we want to sort of expand the middle class and grow the middle...
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Dec 6, 2012
12/12
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if that means extending the bush tax cuts until both things happen, in other words, whatever tax increases take place take place, whatever expenditure reductions take place at the same time. i simply wouldn't trust the president with any kind of deal where you give him revenue increase now, and he gives you an expenditure reduction a year from now. i don't think you'll ever see the expenditure reduction and rush limbaugh's comment is absolutely correct. our country is in trouble because we're spending too much money, not because we're taxing too little. >> greta: mayor, i don't know if i could find one american, maybe i can, maybe there are a lot out there who think you can cut a deal now with the promise that something is going to be done down the road by the government. i don't know anyone who would ever believe such a promise. i don't expect that the republicans would accept that offer from the president. i just don't see that as ever happening in the city. let me ask you -- >> i'm sorry. republicans basically have to say our principles here are correct. our whole analysis of the econom
if that means extending the bush tax cuts until both things happen, in other words, whatever tax increases take place take place, whatever expenditure reductions take place at the same time. i simply wouldn't trust the president with any kind of deal where you give him revenue increase now, and he gives you an expenditure reduction a year from now. i don't think you'll ever see the expenditure reduction and rush limbaugh's comment is absolutely correct. our country is in trouble because we're...
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Dec 4, 2012
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tax. >> anyone want to weigh in on these? david, i see you smiling down there. >> i was waiting for judd to jump in. he is the one that convinced me. >> ultimately, i think have gotten more than they can handle. the revenue targets the needs to reach, the spending targets they need to reach now knocked enormous, but if you look down the road, in particular at health care spending, given the discussion we had before, we can do everything we want to try to control health-care spending, but another way to help control health care spending is earmarked a value-added tax toward revenue which would have an immediate link between how much was spent, how much people have to pay in taxes, it would eliminate their repressivity of that, and it would inoculate the deficit from uncertainty about health-care reform. health care reform will take a long time. it is more complicated than tax reform. we have had one major tax reform in the last 50 years, thanks to senator packwood and others. we cannot wait
tax. >> anyone want to weigh in on these? david, i see you smiling down there. >> i was waiting for judd to jump in. he is the one that convinced me. >> ultimately, i think have gotten more than they can handle. the revenue targets the needs to reach, the spending targets they need to reach now knocked enormous, but if you look down the road, in particular at health care spending, given the discussion we had before, we can do everything we want to try to control health-care...
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Dec 5, 2012
12/12
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you said he should propose lowering the corporate tax rate from 35% to 30%. what's your rationale behind that? >> well i have rationales both substantive and political. substantive, i think it is the right thing to do. i've spoken to a lot of economists about this over the years. even many liberal economists would agree that the corporate tax rate of 35% in this country is too high. it is higher than in most other -- i think every other advanced country. now it has to be done, obviously, the lowering would have to be done with closing loot of the loopholes that corporations take advantage of. 26 major corporations last year paid no federal income tax at all. so that nonsense has to be done away with. but substantively, many economists think it is a good idea to lower the corporate tax rate. politically, i think it further hems the republicans in. i think it gives obama even higher political ground than he has now. he already has political high ground. he already has a strong position. he may not even have to do this politically. but i think that this would se
you said he should propose lowering the corporate tax rate from 35% to 30%. what's your rationale behind that? >> well i have rationales both substantive and political. substantive, i think it is the right thing to do. i've spoken to a lot of economists about this over the years. even many liberal economists would agree that the corporate tax rate of 35% in this country is too high. it is higher than in most other -- i think every other advanced country. now it has to be done, obviously,...
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12/12
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from this complicated tax or these high taxes. it works. >> becky, if it was your commission, simpson/bowles -- >> 11 of the 18 members. >> and we got to handle the fiscal cliff but knowing it goes to 28%, wouldn't you be using this opportunity right now to try and bridge a way to get eventually to simpson/bowles? >> the president was behind simpson/bowles from the beginning. >> because of the 28% and the entitlement cuts. if you were on this commission, you would say the fiscal cliff is much more important, let's figure out a way to handle it but with the end in sight of simpson/bowles. we all know we need to get there. instead of this obsession with the top 2% and 39.6, wouldn't you be spending is your leadership capital trying to get to a simpson/bowles. >> that's the most loaded question you could have possibly asked. >> am i wrong? >> no, i agree with that, i agree with simpson/bowles. >> no one's listening at the white house so i can say whatever i want. >> when we've asked republican leaders they've not embraced simpson/bow
from this complicated tax or these high taxes. it works. >> becky, if it was your commission, simpson/bowles -- >> 11 of the 18 members. >> and we got to handle the fiscal cliff but knowing it goes to 28%, wouldn't you be using this opportunity right now to try and bridge a way to get eventually to simpson/bowles? >> the president was behind simpson/bowles from the beginning. >> because of the 28% and the entitlement cuts. if you were on this commission, you would...
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Dec 3, 2012
12/12
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tax cuts, big tax cuts for rich people started under george w. bush and then we had the biggest economic collapse since the great depression. what does that tell you? >> stephanie: why can't they ever acknowledge that? they ran away from bush. no one campaigned on george bush. they must know his policies didn't work. why are they pretending they did? >> he wasn't even at the convention. >> memory hole. >> stephanie: gee, who was really front and center of our campaign? bill clinton! kind of weird. >> good president. >> stephanie: mary in pennsylvania. hi mary. >> caller: hi, there. i love your show. didn't start watching it until late in the campaign. and i feel like i found a wonderful friend. >> stephanie: aww. >> caller: my question is grover cleveland -- >> stephanie: his ideas are just as fresh. [ laughter ] >> caller: exactly. if he think the average career only lasts 25 years has he signed up all of those people to the pledge 20 years ago shouldn't we be getting ready to throw him a retirement party pretty soon? >> stephanie: yeah, one wou
tax cuts, big tax cuts for rich people started under george w. bush and then we had the biggest economic collapse since the great depression. what does that tell you? >> stephanie: why can't they ever acknowledge that? they ran away from bush. no one campaigned on george bush. they must know his policies didn't work. why are they pretending they did? >> he wasn't even at the convention. >> memory hole. >> stephanie: gee, who was really front and center of our campaign?...
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they don't mind taxes. you've got a different dynamic just because who is willing to go through the deadline? >> errol, the president will meet with those ceos. how many will look and say, you know what, hey, buddy, you stink at running negotiations. will you get into a room and work this out? enough of this public posturing. it's absurd. >> they won't say it to his face obviously. >> they'll tell it to other people. they ought to. >> when you're in the beltway, in the bubble, you realize things aren't quite as simple as all of that and things have to go through. there is this tremor, i think, going through state and local governments as well as the business community, what if they don't get it together? i think that's what they're going to convey. >> and you wonder why isn't the president playing the adult and saying let's get in a room now? why the posturing. when we come back, there was a lot of republican branding going on yesterday, happened somewhat accidentally, somewhat on purpose. trivia we ask, na
they don't mind taxes. you've got a different dynamic just because who is willing to go through the deadline? >> errol, the president will meet with those ceos. how many will look and say, you know what, hey, buddy, you stink at running negotiations. will you get into a room and work this out? enough of this public posturing. it's absurd. >> they won't say it to his face obviously. >> they'll tell it to other people. they ought to. >> when you're in the beltway, in the...
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Dec 4, 2012
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it is a $2.2 trillion offer that does not raise the tax rate on the wealthiest americans and that has become the central issue of the negotiations. the white house says republicans still are not ready to get serious. susan mcginnis is in washington with the back and forth details. susan, good morning to you. >> reporter: good morning, terrell. gop leaders here on capitol hill sent their plan to the white house in this letter on monday, and now that both initial offers are out there, both sides say it's time to get serious. governors from six states are headed here to washington today to tell president obama their thoughts on the fiscal cliff. the bipartisan group says both sides need to work together to avoid the tax increases and spending cuts due to kick in at the end of the year. >> no one's going to get what they want, but as a country to move forward, we've got to figure out who gives where, and if everything is going to be out on the table, how do we negotiate that? >> reporter: republicans have given a counterproposal to the president's plan which he issued last week. they say
it is a $2.2 trillion offer that does not raise the tax rate on the wealthiest americans and that has become the central issue of the negotiations. the white house says republicans still are not ready to get serious. susan mcginnis is in washington with the back and forth details. susan, good morning to you. >> reporter: good morning, terrell. gop leaders here on capitol hill sent their plan to the white house in this letter on monday, and now that both initial offers are out there, both...
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Nov 29, 2012
11/12
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. >> there is a lot to be said for a wealth tax and especially a concrete wealth tax. >> bill: far left beginning to push for wealth tax that means the feds would confiscate private property. this is being kept very quiet but tonight you will hear all about it? >> gay marriage or accepting immigrants. >> you are absolutely right. they don't want to believe it's time to change it. >> rhode island governor chafee saying he will not save christmas because the times are a changing. we sent jesse wawfortsz -- watters up to rhode island to find out what the heck is going on. >> isn't it discriminating against christians by calling it a holiday tree? >> caution. you are about to enter the no spin zone. the factor begins right now. >> bill: i'm bill o'reilly, thanks for watching us tonight. america need leaders. in order to turn the country around -- and boy do we need that -- good leadership will have to step up. that means politicians who put you ahead of their own welfare. elected officials who are honest, intelligent and daring. we need that kind of leadership. it's one of the reasons i wro
. >> there is a lot to be said for a wealth tax and especially a concrete wealth tax. >> bill: far left beginning to push for wealth tax that means the feds would confiscate private property. this is being kept very quiet but tonight you will hear all about it? >> gay marriage or accepting immigrants. >> you are absolutely right. they don't want to believe it's time to change it. >> rhode island governor chafee saying he will not save christmas because the times...
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Dec 5, 2012
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it's not the tax cuts going into effect. and -- >> you mean the millions of dollars -- >> the cuts that will be forced through in the next two years. that's a much bigger risk to the economy. >> therefore? >> therefore, if the president lets this thing -- look, the markets have already priced this in. >> i hear the opposite. i hear that they believe that grown-ups will do the job when they have to. they don't believe they're going to let us go over the cliff. >> i don't think the grown-ups believe they have to do the job by january 1st. i believe they believe the grown-ups have to do the job by january 30th or february 15th. >> they're going to believe the politicians can get the job done when they failed to get it done by january 1st. they're then going to believe -- >> i hear what steve is saying there. i'm standing in your camp, which is a rare spot for me to be in, standing in chris's camp here, but i think you're right. i think the markets have not baked this into their equation. >> dysfunction and childishness. >> dysf
it's not the tax cuts going into effect. and -- >> you mean the millions of dollars -- >> the cuts that will be forced through in the next two years. that's a much bigger risk to the economy. >> therefore? >> therefore, if the president lets this thing -- look, the markets have already priced this in. >> i hear the opposite. i hear that they believe that grown-ups will do the job when they have to. they don't believe they're going to let us go over the cliff....
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Dec 1, 2012
12/12
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we can live with a little tax increase. we're loaded up here. just move on and don't screw up the economy because we'll lose a lot more money if this market crashes to a second great recession. >> chris, i think to some extent the market has priced in the notion we would go over the fiscal cliff -- >> you're wrong. no. everybody -- who you talking to? i keep talking to people and they -- who you talking to? >> i actually spoke with a source the other day who is in washington, he's an attorney, who said, listen -- >> a lawyer? >> a lawyer but speaks to a lot of folks that are wall street type who says the market could take it for a couple of weeks. >> the cake is baked and they think the intelligence of politicians is up to this challenge. >> but wall street doesn't really have a lot of faith in this process to be able to get done. they have priced in just a little bit that this could happen for a while. maybe not for months, but you wouldn't see the market necessarily crash like the next day. you'd have time. i think if they came back on january
we can live with a little tax increase. we're loaded up here. just move on and don't screw up the economy because we'll lose a lot more money if this market crashes to a second great recession. >> chris, i think to some extent the market has priced in the notion we would go over the fiscal cliff -- >> you're wrong. no. everybody -- who you talking to? i keep talking to people and they -- who you talking to? >> i actually spoke with a source the other day who is in washington,...
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Dec 4, 2012
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tax the rich first. obama, if he got his taxes on the rich, is still $8 trillion short over the next decade. that's where the energy taxes he's going to present and the value added tax that ultimately turns us into a european welfare state only of that can pay for obama's sized government. >> wow. grover, unfortunately we have to leave it there. our discussion of unicorns will continue, i'm sure, at least up until december 31st. thank you for joining us today as always. >> you got it. >> after the break, offer ver ses counteroffer. we will break both down with ezra klein when he joins us next on "now." i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our env
tax the rich first. obama, if he got his taxes on the rich, is still $8 trillion short over the next decade. that's where the energy taxes he's going to present and the value added tax that ultimately turns us into a european welfare state only of that can pay for obama's sized government. >> wow. grover, unfortunately we have to leave it there. our discussion of unicorns will continue, i'm sure, at least up until december 31st. thank you for joining us today as always. >> you got...
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Dec 6, 2012
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host: the estate tax or the capital gains tax? guest: the estate tax. host: if it's an asset, you pay capital gains. guest: right. host: we have this comment on twitter from james. guest: corporations would say the businesses are already being taxed. folk should not be taxed for investing in their business. host: double taxation. guest: that is the argument. when people die, they are being taxed again. that is the essence of the argument against the estate tax. host: can you start over? caller: a quick question about the comments of the 401(k). i used to work for a cpa firm. i understand they are income tax deferred instruments. when you take it out, the tax you pay is income tax. the assumption is the rate would be lower. let's say the rate is 25% when you retire. that is higher than the current cap gains tax rate. it does not apply to 401(k)'s or any other income tax deferred instrument. when you take them out, you pay taxes on them. guest: that is correct. you pay income tax and presumably when you retire, you are at a lower tax rate and that is the
host: the estate tax or the capital gains tax? guest: the estate tax. host: if it's an asset, you pay capital gains. guest: right. host: we have this comment on twitter from james. guest: corporations would say the businesses are already being taxed. folk should not be taxed for investing in their business. host: double taxation. guest: that is the argument. when people die, they are being taxed again. that is the essence of the argument against the estate tax. host: can you start over? caller:...
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Dec 1, 2012
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. >> some of it comes from the general fund, there's income taxes and other taxes in the tax code and payroll taxes that create this distinct funding mechanism. >> and some of the money in the general fund comes from the social security trust fund. >> that's right. >> i wanted to get more to the political aspect of it. so maybe popularly people don't want to see 34ed kade -- i'm sorry, medicare touched but the belt way folks, the folks that are going to be voting on this do want to see that. >> yes, would he do. >> what are we going to bring to the table? are we just going to say we're not going to bargain with you? i mean, at what level do we allow for, say, means testing? we may not like it, but that's what it's going to allow. >> means testing, we can do means testing. if you want to do means testing, there's a very efficient way of doing it. we will raise your taxes on -- >> if you have more money. >> the grand bargain. >> the reality is that's not going to happen. >> wait a second. >> that's not going to happen. we can talk about -- look, we can talk about -- >> the reason why th
. >> some of it comes from the general fund, there's income taxes and other taxes in the tax code and payroll taxes that create this distinct funding mechanism. >> and some of the money in the general fund comes from the social security trust fund. >> that's right. >> i wanted to get more to the political aspect of it. so maybe popularly people don't want to see 34ed kade -- i'm sorry, medicare touched but the belt way folks, the folks that are going to be voting on this...
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Dec 5, 2012
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i can do the rest of my taxes for me. >> greg: adorable. here is where it gets delightful. >> schools, public safety, the roads, parks. libraries. public transportation. all in decline. rich people didn't care. they said get what they deserve. ordinary people wonder why rich people needed so much money. the 1% said don't worry. this is good for you, too! because it will trickle down from us to you. >> greg: ah, yes. is there any better lesson for your kids than saying the rich pee on the poor? you know it's bad when shanghai has more in common with traditional values than california does. we have in-house training film for occupy wall street, guaranteeing another generation of the angry deserved class warriors in ten years. what the video shows is how bitter and ugly progressives can be. for a moment i thought it was a parody but it's real. it's accurate depiction of the envy-driven left than you'll see and brought to you from california teachers. the people who want to put the grimy greedy paws all over your kids' minds among other things.
i can do the rest of my taxes for me. >> greg: adorable. here is where it gets delightful. >> schools, public safety, the roads, parks. libraries. public transportation. all in decline. rich people didn't care. they said get what they deserve. ordinary people wonder why rich people needed so much money. the 1% said don't worry. this is good for you, too! because it will trickle down from us to you. >> greg: ah, yes. is there any better lesson for your kids than saying the rich...
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or draw a bill that could give the government taxes to people that are serious response and privacy concerns with how the secretary labeling everyone opposed to terrorists and paedophiles. under these rope of yours they were brought to you on polls to reveal the truth about its nuclear program worth using top knowledge and other topics weapons on it it does the. international news life or this is all she was me you national politics for joining us opposition groups in egypt how we should a set of demands to the country's president mohamed morsi aimed at scrapping his latest political drives this follows a fierce standoff outside the presidential palace in cairo which reportedly falls they gyptian lead it to flee the building cairo based reporter belcher has more cars. i was that in the march tenth out of tens of thousands of protesters coming from various locations in cairo converging in front of the presidential palace in a suburb of cairo when they got there they were greeted by police behind barbed wire and really i mean speaking of the protesters they felt like they wanted to protest the
or draw a bill that could give the government taxes to people that are serious response and privacy concerns with how the secretary labeling everyone opposed to terrorists and paedophiles. under these rope of yours they were brought to you on polls to reveal the truth about its nuclear program worth using top knowledge and other topics weapons on it it does the. international news life or this is all she was me you national politics for joining us opposition groups in egypt how we should a set...
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when it comes to raising taxes on the wealthy those making more than two to fifty thousand dollars if republicans do not agree to that is the administration prepared to go over the fiscal cliff oh absolutely. absolutely but when it comes to the u.s. is economic problems does this tax debate or even as fiscal cliff debate begin to scratch the surface of the crisis. former republican strategist author and historian kevin phillips is here with lessons we can learn from seventeen seventy five the subject of his latest book that many a politician may benefit from actually reading. from a long time and bald churchy i don't do it anymore of those boys much they do not read his words will. they go and the as these the is reportedly investigating going to be providing twelve billion dollars in derivatives trading losses in two thousand and eight yeah yeah there's a list of alleged bad bank behavior how is good capitalism though being driven out by bad capitalism all will break it down and word of the day plus alan greenspan says a painless solution to the u.s. debt is a fantasy finally somethi
when it comes to raising taxes on the wealthy those making more than two to fifty thousand dollars if republicans do not agree to that is the administration prepared to go over the fiscal cliff oh absolutely. absolutely but when it comes to the u.s. is economic problems does this tax debate or even as fiscal cliff debate begin to scratch the surface of the crisis. former republican strategist author and historian kevin phillips is here with lessons we can learn from seventeen seventy five the...
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he compromised. >> he never compromised principles. >> well, he raised taxes. >> he also cut taxes. >> but he did compromise. >> that's not true. >> and at that point, cantor's press secretary yelled off camera saying what i was saying wasn't true. >> they are going to have to get real here, e.j. they are going to have to deal with some truth and some facts. otherwise, we'll never move forward. >> i think there is a myth of reagan as a pure idealog and he's also the guy that rec recognized that gorbechov was not like the other soviet leaders. i think the republicans have been taxaphobic ever since george h.w. bush raised the taxes back in 1990. he lost the election. they have been afraid to do it ever since. >> e.j. dionne, thank you so much for your time. have a nice great weekend. >> and great to be with you. thank you. >>> coming up, karl rove finally has the answer. he knows exactly why he blew through $300 million for his billionaire buddies. you've got to hear this. >>> and scott walker's so concerned about retirees that he want to get rid of same-day voting registration. i wond
he compromised. >> he never compromised principles. >> well, he raised taxes. >> he also cut taxes. >> but he did compromise. >> that's not true. >> and at that point, cantor's press secretary yelled off camera saying what i was saying wasn't true. >> they are going to have to get real here, e.j. they are going to have to deal with some truth and some facts. otherwise, we'll never move forward. >> i think there is a myth of reagan as a pure...
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Nov 29, 2012
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bad to raise taxed on everyone, bad to raise taxes on 40% of the nation's income. better to leave that money in the hands of those who earned it. leave it in kentucky. leave it in the private sector. >> i understand you don't want to raise the tax rates on anyone, rich or middle class or anyone, but what about capping deductions, eliminating loopholes, stuff like that? are you open to that? >> yes, if it's for tax reform. it's not going to happen in this. if we were to lower rates, for example, you could lower the top rate from 35% to 33%, and actually get more revenue and get rid of some of the deductions at the same time. but i'm not going to vet to bring more revenue to washington. i want less money coming to washington, less money spent up here and that's how you get the economy to grow. we won't have more economic growth if we send more money to washington. we'll have less economic growth. >> if the republicans hold firm to that position just spelled out in significant detail, there is not going to be a deal between now and december 31st and all americans, for
bad to raise taxed on everyone, bad to raise taxes on 40% of the nation's income. better to leave that money in the hands of those who earned it. leave it in kentucky. leave it in the private sector. >> i understand you don't want to raise the tax rates on anyone, rich or middle class or anyone, but what about capping deductions, eliminating loopholes, stuff like that? are you open to that? >> yes, if it's for tax reform. it's not going to happen in this. if we were to lower rates,...
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Dec 6, 2012
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go up, let these taxes happen if republicans press the idea of no tax increases for the wealthy. the latest we've learned, president obama and house speaker john boehner have spoken by phone. no word on what they discussed or whether there are any meetings planned, but just the fact that they're talking seems to be progress these days here on capitol hill. >> we'll take that. tracie potts for us in washington. tracie, thanks. >>> egypt state television is reporting at least five people were killed in overnight flashes between supporters and opponents of egyptian president mohammed morsi. the street battles were the most violent since egypt's latest crisis erupted two weeks ago where morsi assumed near absolute power. the opposition is vowing more protests later today. >>> this morning, two australian radio hosts are apologizing for a prank call that's getting worldwide attention. it was made to the hospital where kate is being treated for acute morning sick sentencesness. anna bell roberts is with us. >> reporter: good morning, lynn. that's right. the latest on kate's condition i
go up, let these taxes happen if republicans press the idea of no tax increases for the wealthy. the latest we've learned, president obama and house speaker john boehner have spoken by phone. no word on what they discussed or whether there are any meetings planned, but just the fact that they're talking seems to be progress these days here on capitol hill. >> we'll take that. tracie potts for us in washington. tracie, thanks. >>> egypt state television is reporting at least five...
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Dec 3, 2012
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the president has been very specific on tax revenues and what he wants. but the republicans are trying to put him in a position of doing their job for them. saying well, you tell us what you'll take and then maybe we'll come up with a plan. and clearly obama's not going to play that game. that's what geithner was signaling in the talk shows, that we're waiting for your proposal on entitlements, tell us what it is. >> look, therein lies the rub. that's the rub on this. because you led in with the president's speech in 2011. very good words, serious, somber. >> words that did not play well for the republicans. >> got that. but this is where the republicans are. okay. show me you're serious. lay out where you're beginning to want to make those cuts on entitlements. because we don't want to get out in front of this and be whipped upside the head for wanting to cut all these programs to, you know, kids afterschool and rec centers. >> the white house needs to present what they're -- >> the reality, yeah. that's it. on entitlements, the republicans view is we've
the president has been very specific on tax revenues and what he wants. but the republicans are trying to put him in a position of doing their job for them. saying well, you tell us what you'll take and then maybe we'll come up with a plan. and clearly obama's not going to play that game. that's what geithner was signaling in the talk shows, that we're waiting for your proposal on entitlements, tell us what it is. >> look, therein lies the rub. that's the rub on this. because you led in...
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the vote in front of them is going to be to cut taxes. taxes will rise anyway. the bush tax cuts will expire. then they'll bring in legislation saying let's cut taxes for the middle class and every republican out there including john boehner will say i voted for a tax cut, not a tax hike. >> well, here's tom cole speaking with chuck todd about cole's advice to pass the tax extensions for 98% of americans. here it is. rather comical. >> that advice was given in private, but you guys have a way of figuring out what? said in private. somebody leaked it out. that's fine. >> you didn't intend for this to go public? >> no. >> you did not -- this is something you were -- okay. >> but, again, it is what i said. it's not an inaccurate report. >> i mean, did republican leaders want cole's advice to be leaked? >> of course they did. i mean, and if they didn't want it to be leaked, they wanted it to be repeated. so john boehner has wiggle room. he can look like he's the tough guy to the tea party folks who have to vote him back in as speaker. tom cole is really laying out t
the vote in front of them is going to be to cut taxes. taxes will rise anyway. the bush tax cuts will expire. then they'll bring in legislation saying let's cut taxes for the middle class and every republican out there including john boehner will say i voted for a tax cut, not a tax hike. >> well, here's tom cole speaking with chuck todd about cole's advice to pass the tax extensions for 98% of americans. here it is. rather comical. >> that advice was given in private, but you guys...
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trying to build that government to people's taxes he's promised privacy concerns secretary labor and everyone labeling everyone else to terrorists beat up my. feet no one should be proud of heaps of scrap metal littering pristine arctic landscape building stilton over their foundation pipes spewing black smoke over the snow covered peaks the traces of the soviet industrial activity on the spitzbergen archipelago don't make a pretty picture of the guiding principle here is the worst the better that can do nine hundred eighty s. bearings work was a burgeoning mining community. union was determined to maintain at all costs. half way between north america and western europe bergen archipelago is part of norway with a special status that allows other countries to set up industrial bases here in the middle of the cold war it served as the us is ours westernmost outpost now it's one of the last preserved relics. it is essentially a picture of what would have happened to the soviet union if it was cut off from any financial support for two decades it's a curious site for western tourists and
trying to build that government to people's taxes he's promised privacy concerns secretary labor and everyone labeling everyone else to terrorists beat up my. feet no one should be proud of heaps of scrap metal littering pristine arctic landscape building stilton over their foundation pipes spewing black smoke over the snow covered peaks the traces of the soviet industrial activity on the spitzbergen archipelago don't make a pretty picture of the guiding principle here is the worst the better...
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we talk about the state capital which was tax -- 74% tax exempt. a lot of it was a result of the state taking over a large percentage of our city. a lot of it was non for profits. i have had a good working relationship with people in the state governments. it is good to have them close. i can see what they're doing and to buy and put and see what i can do for the people of the city. [captions copyright national cable satellite corp. 2012] [captioning performed by national captioning institute] host: we turn our attention to unemployment insurance and how it can be impacted. joining us for the discussion is josh . caller: it is a combination of a federal and state program. it usually lasts -- it can be extended up to 93 weeks. it is the extension be on the six month time frame we're talking about as part of the fiscal cliff tops. host: that is what might be caught -- cut? guest: that is what automatically expires. president obama has said as part of the deal i want to make, the benefits should continue. republicans have not taken a firm stand. we ha
we talk about the state capital which was tax -- 74% tax exempt. a lot of it was a result of the state taking over a large percentage of our city. a lot of it was non for profits. i have had a good working relationship with people in the state governments. it is good to have them close. i can see what they're doing and to buy and put and see what i can do for the people of the city. [captions copyright national cable satellite corp. 2012] [captioning performed by national captioning institute]...
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Dec 1, 2012
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a tax cut can't be touched. if you do that, you are raising taxes. he is known for going around capitol hill threatening anyone that ties to cut these billion dollars in wasteful tax cuts. he is providing an idealogical cover for corporate lobbying. the oil and natural gas industry provides significant funding to his foundation. >> i want to bring in my guest on exactly this question. dan? >> a very important point that i hope the president will get to. a real consolidated energy proposal. it is a direction he has been going, a little bit in the direction of clean coal i think that's the wrong direction to go. on the bigger picture, there has been nothing -- if you have to point to one thing, i'm always talking about this, that talked about the disparity, the wealth disparity we are looking at, just one thing, it has been this down ward slope in the upper bracket, marginal tax rates that have caused that. this president, that's why it is so important for us to hold on this. this president obama is not moving things back to the 50s or the 60s. >> he i
a tax cut can't be touched. if you do that, you are raising taxes. he is known for going around capitol hill threatening anyone that ties to cut these billion dollars in wasteful tax cuts. he is providing an idealogical cover for corporate lobbying. the oil and natural gas industry provides significant funding to his foundation. >> i want to bring in my guest on exactly this question. dan? >> a very important point that i hope the president will get to. a real consolidated energy...
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so, streamline the tax code, remove the entire income tax philosophy, fair tax or flat tax, can't do that now. but look at spending and spending cuts across the board and different programs where we can really cut some money, rather than talk about it, let's do something and do it next week and move it down to the senate and the let them look at it it. >> dave: so there's substance and also, style, congressman. how do you feel about the fact that the president, instead of sitting down with your leader john boehner is out there in what appears to be a campaign style, giving speeches instead of negotiating? >> well, it's disturbing in some respect. he is the leader of the country. and rather than be in washington d.c. in a room working with everybody involved that can make these decisions and push legislation, republicans, democrats, senators, members of house and talking through the knitty gritty, he proposes town and campaigns about it and it's difficult to communicate and talk about things if the president is not in washington to talk. >> dave: especially with roughly two weeks to g
so, streamline the tax code, remove the entire income tax philosophy, fair tax or flat tax, can't do that now. but look at spending and spending cuts across the board and different programs where we can really cut some money, rather than talk about it, let's do something and do it next week and move it down to the senate and the let them look at it it. >> dave: so there's substance and also, style, congressman. how do you feel about the fact that the president, instead of sitting down...
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. >> the defensive marriage act passed in 1996 which says for federal tax and other federal purposes, marriage shall be defined only between a man and a woman. so a couple of different federal court of appeals in the second circuit and the first circuit have struck down that aspect of doma, saying that the federal government has to treat same-sex married couples from those states that recognize same-sex marriage as married for federal purposes. so i think a lot of people properly speculate that the supreme court will have to take at least one of these doma cases, because when lower courts are struck down in aederal statute, that's a big deal, and we have to get a resolution of that. whether the preme court says at the same time it's going to go ahead and take the prop 8 case alongside or whether it will take a doma case and sit on the prop 8 case for some periods of months and then resolve the doma case and see how it feels about prop 8 after that is a more difficult question. >> certainly the court hasn't wanted to go too far ahead of what they see as a national consens consensus, bu
. >> the defensive marriage act passed in 1996 which says for federal tax and other federal purposes, marriage shall be defined only between a man and a woman. so a couple of different federal court of appeals in the second circuit and the first circuit have struck down that aspect of doma, saying that the federal government has to treat same-sex married couples from those states that recognize same-sex marriage as married for federal purposes. so i think a lot of people properly...
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there is also other taxes like gasoline tax, phone tax. we pay a lot of money to foreign countries that we do not need to. as i think about taxes. guest: this is kind of one of the ideas that republicans talk about, and democrats talk about when we talk about moving to tax reform. it is getting the individual provisions. rainout it is a complicated mess -- right now it is a complicated mess. the kind of start over with a simple system that has a few income brackets. easier said than done. that is one of the goals here. host: jim from twitter says -- guest: absolutely. a lot of these credits and deductions, the standard deduction exceeds what you would get, that you just take that. host: the specific credits we have been talking about prompt a question from cindy. guest: yes. you generally have to be working are working outside the home. host: is there an hour requirements? guest: there are a lot of specific requirements. host: kay from richmond, virginia. caller: if somebody is working as hard as they can and making less than $50,000 a yea
there is also other taxes like gasoline tax, phone tax. we pay a lot of money to foreign countries that we do not need to. as i think about taxes. guest: this is kind of one of the ideas that republicans talk about, and democrats talk about when we talk about moving to tax reform. it is getting the individual provisions. rainout it is a complicated mess -- right now it is a complicated mess. the kind of start over with a simple system that has a few income brackets. easier said than done. that...
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tax cuts expire, right? >> initially they did and then were going to do tax reform. >> would they increase the taxes on the rich? >> yeah. >> they would? >> yes. >> to the same extent? >> i would have to do the math. >> don't you do any homework? >> numbers cruncher. dad, thank you so much. i wasn't chained in any way. >> no, he didn't call you co comical. >> you were not chained. >> old time memories. >> okay. >> senator claire mccaskill coming up next, joins us in washington. also cokie roberts. first to bill karins in new york. he has a check on the forecast. bill? >>> good morning to you, joe. we can say good-bye to those late summer/early fall like temperatures. the cold front is heading through neng neck and soon areas of the mid-atlantic. temperatures have fallen a little bit. watching chicago, much colder right now this hour than yesterday at this time at 27. so the midwest has returned to normal. the east coast, blustery weather will arrive during the aft afternoon. on that cold front we've had a li
tax cuts expire, right? >> initially they did and then were going to do tax reform. >> would they increase the taxes on the rich? >> yeah. >> they would? >> yes. >> to the same extent? >> i would have to do the math. >> don't you do any homework? >> numbers cruncher. dad, thank you so much. i wasn't chained in any way. >> no, he didn't call you co comical. >> you were not chained. >> old time memories. >> okay....
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should the middle-class tax cuts be extended? should the bush tax cuts on the rich end? should we end the medicare guarantee for our seniors and the next generation? well, those big questions were discussed, argued and clear positions were taken, and voters went to polling places on election day to render their verdict. and, mr. president, the outcome was clear. candidates who stood up for the middle class won. candidates who advocated for our seniors came out ahead. and in exit polls across the country, voters made very clear that they strongly supported the idea that the wealthy should pay higher tax rates and their fair share. and everyone -- democrat, republican, independent, wealthy, low income, middle class, students, workers, retirees, older, younger and inbetween -- everyone, everyone supports extending the tax cuts for the middle class. nobody thinks that the taxes should go up for 98% of our workers and 97% of our small business owners. so, mr. president, this ought to be easy. the american people just weighed in supporting a continuation of the bush tax cuts f
should the middle-class tax cuts be extended? should the bush tax cuts on the rich end? should we end the medicare guarantee for our seniors and the next generation? well, those big questions were discussed, argued and clear positions were taken, and voters went to polling places on election day to render their verdict. and, mr. president, the outcome was clear. candidates who stood up for the middle class won. candidates who advocated for our seniors came out ahead. and in exit polls across...
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it's not increasing taxes on the wealthy, it's just blanketly you increase taxes. so you've got all this noise going on. and boehner's got to try to figure out a way to give these guys some cover but know he's got to cut the deal. to your point, leigh, about how do you begin to pull it from the big plan to a smaller plan, that's really what the white house and boehner quietly are talking about. >> and what we don't want also is i think a kind of down payment deal that sort of makes it a two-part deal that just delays everything. >> i think you're going to get some of that. i think you'll probably get the big deal for the middle class. okay, we're going to take that off the table. and graham and others have said that. we know we're not going to raise taxes on the middle class. let's let the bush tax cuts stay in place for the middle class. and then it becomes a little bit more of an interesting conversation when you're only dealing with a smaller percentage of the plan as opposed to the big piece right now. >> so how does he -- how does john boehner save face? you t
it's not increasing taxes on the wealthy, it's just blanketly you increase taxes. so you've got all this noise going on. and boehner's got to try to figure out a way to give these guys some cover but know he's got to cut the deal. to your point, leigh, about how do you begin to pull it from the big plan to a smaller plan, that's really what the white house and boehner quietly are talking about. >> and what we don't want also is i think a kind of down payment deal that sort of makes it a...
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tax rates will go up. republicans might let a vote go through on a bill that, you know, extends all the middle-class tax cuts, lets the top 2% expire. say it's a democrat bill, democrats mainly supported it with moderate republicans and senate approve that and throw in unemployment benefits and other stuff. >> and john boehner can't afford to say there's progress being made or people will have his head again. he has to say pleasant but nothing going on. >> i don't know. i think if you believe that this is the truth, you and ayman should do something like if you had mustaches shave them if you lose. >> grow them. >> grow. maybe grow one. >> universal. >> no one wants to see a mustache. >> the mustache karma of david axelrod can be channeled through cnbc's ayman jabbers. >> i'll talk to him about that. >> i checked with ben about that. he will accept payment in pennies if i lose. >> i'm looking forward to it. >> that is downright scrooge-like. ayman jabbers thank you as always for the answers my friend. >> t
tax rates will go up. republicans might let a vote go through on a bill that, you know, extends all the middle-class tax cuts, lets the top 2% expire. say it's a democrat bill, democrats mainly supported it with moderate republicans and senate approve that and throw in unemployment benefits and other stuff. >> and john boehner can't afford to say there's progress being made or people will have his head again. he has to say pleasant but nothing going on. >> i don't know. i think if...
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we don't think their taxes should go up. to me since that's a point of agreement and doesn't affect either side's negotiating position on the other issues we ought to remove it from the table. make sure most americans don't have to worry about their taxes going up. having said that, again, i think the speaker's right on in terms of the proposal he's put out there. most importantly, he couples it with something the president doesn't, which is really significant spending cuts and entitlepment reform. but if we solve the tax problem for 98 ps% of the american people, continue to fight for the other 2%, to not raise rates, that seems to me we move closer it toward that spending and entitlement debate and i think that's something that the president and the democrats in general are trying to avoid. >> senator, tom coburn was on "morning joe" alongside you today and he has -- he's willing to make a deal that does involve the higher rates for the wealthy. why not go there? the president has made it clear it just is not enough money
we don't think their taxes should go up. to me since that's a point of agreement and doesn't affect either side's negotiating position on the other issues we ought to remove it from the table. make sure most americans don't have to worry about their taxes going up. having said that, again, i think the speaker's right on in terms of the proposal he's put out there. most importantly, he couples it with something the president doesn't, which is really significant spending cuts and entitlepment...
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tax rates for the top 2%. they've been as high as 90% in the great depression, so you really have to have perspective here. it's hard to see the republicans making this their sticking point. making this thing that that is the hill that they will die on, is not raising taxes on the top 2%. i think that karen is right, that the white house has everything to gain by keeping the president above this. and on the payroll tax thing, that worked. that employ worked and i think that they're planning on having this work out again. the president is the one making the case to people that his staff is dealing with boehnerth and i think that's the right psychological play and it's the right political negotiating play. >> anna marie cox and karen tumblety. stand by, we're going to talk about grover norquist. by the way, karen, happy belated birthday. >> thank you. >> i hear you celebrated, i heard there was a wild party in d.c. last night. thanks for the invite. >> quick note here, don't know what you're doing with your sund
tax rates for the top 2%. they've been as high as 90% in the great depression, so you really have to have perspective here. it's hard to see the republicans making this their sticking point. making this thing that that is the hill that they will die on, is not raising taxes on the top 2%. i think that karen is right, that the white house has everything to gain by keeping the president above this. and on the payroll tax thing, that worked. that employ worked and i think that they're planning on...
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Nov 30, 2012
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both men refusing to give ground on the issue of tax rates for the wealthy. obama insisting they go up, boehner insisting they don't. >> listen, this is not a game. jobs are on the line. the american economy is on the line. this is a moment for adult leadership. >> reporter: and taxes aren't the only sticking point. republicans are demanding the president come forward with a plan to limit spending on medicare and social security, something many democrats say is just not acceptable. >> i didn't have my own card with me. jill wouldn't let me have one. >> reporter: vice president biden got into the act today, too, taking a break from christmas shopping and snacking at costco to urge congress to extend middle class tax cuts. >> i think it's important congress acts now. i mean, right now. >> reporter: can mitt romney, with all his business experience, play a role on brokering a deal? well, don't count on it, diane. the president did not ask for his help today and the two simply agreed to keep in touch. and for now, nothing more. >> all right, thank you, jonathan k
both men refusing to give ground on the issue of tax rates for the wealthy. obama insisting they go up, boehner insisting they don't. >> listen, this is not a game. jobs are on the line. the american economy is on the line. this is a moment for adult leadership. >> reporter: and taxes aren't the only sticking point. republicans are demanding the president come forward with a plan to limit spending on medicare and social security, something many democrats say is just not acceptable....
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tax rates on the wealthy remain the key sticking point between both sides. after a white house meeting tuesday, a bi- partisan group of governors expressed hope that an agreement will be reached soon. experts forecast economic turmoil in january, if a deal is not reached. >> john boehner took a break from the negotiations to help light of the christmas tree. eagle scout, from colorado springs helped out and there is. the crowd in cheers and the u.s. air force played " a christmas tree " and other holiday classics. this is a spruce tree from call rental white river national forest. it has 10,000 lights, ornaments and will be let in each night until the day after christmas. >> we are going to take a look at the golden gate bridge. dry roadways. the bulk of the wet weather is to the north. it is going to pick up in intensity, overnight. it will impact certain areas to more with moderate/heavy downpours. it could try out at night and it looks like that we will have a drying trend with the workweek. taking a look at the stormtracker 4 some pretty widespread rainf
tax rates on the wealthy remain the key sticking point between both sides. after a white house meeting tuesday, a bi- partisan group of governors expressed hope that an agreement will be reached soon. experts forecast economic turmoil in january, if a deal is not reached. >> john boehner took a break from the negotiations to help light of the christmas tree. eagle scout, from colorado springs helped out and there is. the crowd in cheers and the u.s. air force played " a christmas...
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know the banks when they discharge these that they charge them off their accounts and they take a big tax break which is another kind of bail out and then there are allowed to sell the dots on this very shadowy debt market most debtors are not on aware of that and one of the great successes of the campaign really is that it's a public education campaign more and more people are beginning to realize how the system works in frankly very predatory ways as a result of our campaign so dead in many cases is. upon individuals or mortgage holders or entire countries using very dubious sales tactics or just outright debt cram downs we see this in many countries and then in the cases where debts cannot be paid the collection of those debts is passed off to a debt collection agency as you point out for pennies on the dollar the debt collection agency by used those debts as a counter saying of all in the. i hope that they can get enough people to pay off their debt to legitimize their cost of buying those debts and we have a situation where debt is the currency of financial repression financial zero
know the banks when they discharge these that they charge them off their accounts and they take a big tax break which is another kind of bail out and then there are allowed to sell the dots on this very shadowy debt market most debtors are not on aware of that and one of the great successes of the campaign really is that it's a public education campaign more and more people are beginning to realize how the system works in frankly very predatory ways as a result of our campaign so dead in many...
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Nov 29, 2012
11/12
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scares of automatic spending cuts and tax increases could take effect january 1st. democrats moved by president obama and congressional republicans signaled they are willing to compromise on changing tax rates and spending reductions but the negotiations are moving very, very slowly. susan mcginnis is in washington with the latest. susan, good morning to you. >> reporter: good morning. the president is sending his top two negotiators to talk with lawmakers today about possible spending cuts. he's also getting ready to take his fiscal cliff message on the road. he'll try to convince the american people the best way to avoid the fiscal cliff is to extend the bush era tax cuts for the middle class. >> it's too important for washington to screw this up. >> reporter: president obama is putting pressure on congressional republicans and he's enlisting middle class americans in getting the gop to take action on taxes. >> when the american people speak loudly enough, lo and behold congress listens. >> reporter: tomorrow he'll host a campaign style event where he calls on law
scares of automatic spending cuts and tax increases could take effect january 1st. democrats moved by president obama and congressional republicans signaled they are willing to compromise on changing tax rates and spending reductions but the negotiations are moving very, very slowly. susan mcginnis is in washington with the latest. susan, good morning to you. >> reporter: good morning. the president is sending his top two negotiators to talk with lawmakers today about possible spending...
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but does so without raising tax rates for top income earners. the president says that's unacceptable. >> we're going to have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. >> reporter: republicans, like rising star senator marco rubio, say raising taxes on the wealthy is the wrong approach. >> the tax increases he wants would fail to make even a small dent in the debt. it would hurt middle-class businesses and the people who work for them. >> reporter: so, that's the major holdup, taxes. republicans and democrats deeply divided. >> there's nothing going on privately that's not going on public. >> reporter: amidst the political posturing, there may actually be a chance for compromise on medicare. president obama says he's open to raising the age when seniors can start receiving benefits, from 65 to 67. according to one study, that would save almost $6 billion a year. president obama travels, today, to the business roundtable, where he'll address ceos of leading companies, folks who are closely watch
but does so without raising tax rates for top income earners. the president says that's unacceptable. >> we're going to have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. >> reporter: republicans, like rising star senator marco rubio, say raising taxes on the wealthy is the wrong approach. >> the tax increases he wants would fail to make even a small dent in the debt. it would hurt middle-class businesses and the people who work...
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by letting the bush tax cuts expire they get trillions of revenue while preserveing tax cuts for the 98%. how can you be except that? >> stephanie: it's so wear to see a moment of naivete from jim. close the door. >> close the door, wow. >> stephanie: karl, before we go, what is your take on this susan rice thing susan collins now expressing that she's also troubled. >> i'm very troubled. >> stephanie: here's what i don't get, wouldn't he be nominated for secretary of defense any way? >> there's been speculation that he would go up for either one of them. i think he would be perfectly godgood at either one of them, but it all comes down to them not liking susan rice and wanting to blame her for things that happened in the 90s too. >> stephanie: she was also responsible for the coal bomb,. >> we need help with women let's go after one. >> stephanie: yes, exactly. karl frisch, you are delightful. i love you. come back. >> any time. >> stephanie: right back on "the stephanie miller show"." governor tomorrow night. she is awesome. we'll be right back on the "stephanie miller show." [ ♪
by letting the bush tax cuts expire they get trillions of revenue while preserveing tax cuts for the 98%. how can you be except that? >> stephanie: it's so wear to see a moment of naivete from jim. close the door. >> close the door, wow. >> stephanie: karl, before we go, what is your take on this susan rice thing susan collins now expressing that she's also troubled. >> i'm very troubled. >> stephanie: here's what i don't get, wouldn't he be nominated for secretary...
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Dec 5, 2012
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we don't have any objection to tax reform, tax simplification. closing loopholes, closing deductions, but there is a bottom line, an amount of revenue that is required in order for us to get a real, meaningful deficit reduction plan that hits the numbers that are required for us to stabilize our debt and deficits. and -- [. [no audio] kwroe. jenna: we gave it our best shot. sometimes we can't do it. the president speaking at the white house at the business roundtable about the economy. fiscal cliff certainly the issue in the short term for a lot of big businesses and certainly for a lot of american taxpayers. however, long term is another story when it comes to the economy, and entitlements, the president referring to that as well. as we continue to get that feedback you can check it out foxnews.com, in the meantime we're going to move onto other news as well. >> reporter: and so let's begin with the violence that is appearing to really spiral out of control. secretary of state hillary clinton says she fears a desperate president bashar al-assad
we don't have any objection to tax reform, tax simplification. closing loopholes, closing deductions, but there is a bottom line, an amount of revenue that is required in order for us to get a real, meaningful deficit reduction plan that hits the numbers that are required for us to stabilize our debt and deficits. and -- [. [no audio] kwroe. jenna: we gave it our best shot. sometimes we can't do it. the president speaking at the white house at the business roundtable about the economy. fiscal...
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pays a lot of money in payroll taxes and sales taxes and state and local taxes and property taxes. it adds up even if they're not paying income tax. host: how would you compare the current talks to july 2011 and the debt limit, fiscal cliff, sequestration -- guest: the debt limit talks definitely set the stage for this. they were not completely without value. i get the sense it is a lot more serious now. it has almost been like a year- and-a-half long negotiation. with the real deadline being the expiration of the bush tax cuts at the end of this year. to some extent, now they're getting to the real deadline and it is more serious. host: have you written one of the, if we go over the cliff, this is what happens-type article? guest: yes. people would probably start feeling it in their paychecks pretty quickly. never mind what it means to the broader economy. it will hit. it will hurt a lot of people. if we did not change the law and it went one month, two months, three months, it could lead to another recession because there be such a sharp drop in people's incomes and it would be s
pays a lot of money in payroll taxes and sales taxes and state and local taxes and property taxes. it adds up even if they're not paying income tax. host: how would you compare the current talks to july 2011 and the debt limit, fiscal cliff, sequestration -- guest: the debt limit talks definitely set the stage for this. they were not completely without value. i get the sense it is a lot more serious now. it has almost been like a year- and-a-half long negotiation. with the real deadline being...
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we can raise tax revenue by simplifying the tax code, not increasing tax rates. we can address wasteful government spending that jeopardize an hour commitments in the national defense and protecting our most honorable. we can jump-start our economy by assuring americans that congress and the president can work together to get the job done and deal courageously with the pressing problems of today. when it comes to the fiscal cliff, the president and congress will either fail together or we will succeed together. there is nothing in between. i am confident that we can pass the test and do what is good and right for the american people. >> the president has been talking a lot about taxes lately, and as acpa who practiced for years and a member of ways and means committee, there is no one who likes to talk about tax more than i do. but let's be honest -- talking about taxes is not going to solve the problem that america faces. we have to turn to the spending side of the ledger. furthermore, his tax proposal will kill about 700,000 jobs and do harm to the economy, aga
we can raise tax revenue by simplifying the tax code, not increasing tax rates. we can address wasteful government spending that jeopardize an hour commitments in the national defense and protecting our most honorable. we can jump-start our economy by assuring americans that congress and the president can work together to get the job done and deal courageously with the pressing problems of today. when it comes to the fiscal cliff, the president and congress will either fail together or we will...
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the white house demanding higher tax rates for the top two tax brackets and republicans refusing. after refusing the proposal last week, house republicans offered an outline for $2.2 trillion in deficit reduction mostly through spending cuts, and while president obama would not answer questions about the counterproposal -- >> no deal better than a bad deal, sir? >> thank you. >> reporter: -- a senior white house official assailed it as a step backwards saying if republicans do not agree to some higher rates for wealthier taxpayers, the nation will go over the cliff and the american people will hold the republicans responsible. wall street remains optimistic a deal will be struck, so the lack of progress has not yet resulted in a market plunge, but some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. and, diane, the official deadline for the fiscal cliff is december 31st at midnight when the ball drops in times square, but there's actually another deadline. the house of representatives is schedu
the white house demanding higher tax rates for the top two tax brackets and republicans refusing. after refusing the proposal last week, house republicans offered an outline for $2.2 trillion in deficit reduction mostly through spending cuts, and while president obama would not answer questions about the counterproposal -- >> no deal better than a bad deal, sir? >> thank you. >> reporter: -- a senior white house official assailed it as a step backwards saying if republicans do...
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and he's raised tax rates and he was elected based on his tax the rich policy. he says that america is poised to take off and if it doesn't, it's the republicans fault. listen. >> you have the u.s. chamber of commerce hardly an arm of my administration or the democratic party. i think, said the other day, we can't be going through another debt crisis, a debt ceiling crisis like we did in 2011. that has to be dealt with. so, i think businesses are going to be ready to hire. we're seeing pretty strong consumer confidence despite weaknesses in europe and even in asia. i think america is poised to take off. stuart: well, the republicans are set to respond today when speaker boehner goes in front of the cameras. will he show signs of retreat or any sign of compromise? remember, the president wants higher tax rates. will john boehner try to move the line that the president has drawn? we will have it for you live here on "varney & company" starting around ten o'clock eastern. then we have darden restaurants, the parent of olive garden, red lobster. it says its business
and he's raised tax rates and he was elected based on his tax the rich policy. he says that america is poised to take off and if it doesn't, it's the republicans fault. listen. >> you have the u.s. chamber of commerce hardly an arm of my administration or the democratic party. i think, said the other day, we can't be going through another debt crisis, a debt ceiling crisis like we did in 2011. that has to be dealt with. so, i think businesses are going to be ready to hire. we're seeing...
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then personal income taxes. then taxes on consumption, and taxes on property. most of these find that taxes on consumption -- the closest thing we have on the federal level is the payroll tax -- would have no direct tax on consumption like every other country in the oecd. that is a consumption tax. many economists and they oecd find that those taxes have no relationship with economic growth. it is the taxes it -- it is not the taxes on consumption that hard economic growth. host: this is part of a continuing series on "washington journal" focusing on a fiscal cliff. our conversation has broadened. to bring it back to the payroll tax cut and remind you it was enacted in december of 2010, designed to temporarily boost the economy and reduce the tax to% from 6.2% to 4.2% and increased take-home pay about an average of $1,000 to $1,800 per worker. it expires at the end of the year, rates will revert back to 6.2%. if you make $35,000 or so, that will be an extra $700 in taxes. the $2,000, an extra thousand dollars. 75,000, $1,500. finally, $110,000, the upper limit
then personal income taxes. then taxes on consumption, and taxes on property. most of these find that taxes on consumption -- the closest thing we have on the federal level is the payroll tax -- would have no direct tax on consumption like every other country in the oecd. that is a consumption tax. many economists and they oecd find that those taxes have no relationship with economic growth. it is the taxes it -- it is not the taxes on consumption that hard economic growth. host: this is part...
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s stock sales and mergers as sellers feared taxes on investment gains could go up next year now despite news like this and even if by efforts to promote i.p.o. bubbles the number of companies going public continues to be down significantly from highs in the one nine hundred ninety s. who why would we want this. why would we ever want to bubble party private equity advisor william janeway is here to explain why bubbles are sometimes good plus u.s. corporate profits hit a record high in the third quarter according to the bureau of economic analysis with these profits why are we seeing more business investment to fuel innovation will discuss and we hear about sovereign credit downgrade and warnings of those downgrades all the time in the wake of the debt crisis and austerity in europe but now extravagance and luxury are on the line the ratings agency moody's has reportedly put carmaker aston martin on review for a debt downgrade we'll discuss let's get to today's capital account. bubbles are often thought of as detrimental to an economy and health needless to say but what if in reality of
s stock sales and mergers as sellers feared taxes on investment gains could go up next year now despite news like this and even if by efforts to promote i.p.o. bubbles the number of companies going public continues to be down significantly from highs in the one nine hundred ninety s. who why would we want this. why would we ever want to bubble party private equity advisor william janeway is here to explain why bubbles are sometimes good plus u.s. corporate profits hit a record high in the third...
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if you're watching the main stream media, it's about tax, tax, tax, tax. why are we taxing so much? because we really do have a spending problem. >> steve: or a deep hole. >> brian: i thought it was interesting. does geithner ever speak and make you feel better? all he does is -- i have a sense that it's something terrible is about to happen. having said that and this communication ability aside, i'm stunned to see him playing politics. he's flat out playing politics. he added if the president doesn't get his own way and get the power action undependentsed power to raise the debt limit and take it away from congress, that's also a nonstarter. since when is getting into that and saying if we don't raise taxes on the top 2%, we're never going to have a deal. really? doesn't he know the math? we all know the math. this is like throwing a nickel into the ocean. $85 billion on an annual deficit that's over a trillion dollars in debt. he's the money guy! how could he possibly trot out there -- i could see axelrod and david plouffe, but the treasury secretary knows it's not going to mean a
if you're watching the main stream media, it's about tax, tax, tax, tax. why are we taxing so much? because we really do have a spending problem. >> steve: or a deep hole. >> brian: i thought it was interesting. does geithner ever speak and make you feel better? all he does is -- i have a sense that it's something terrible is about to happen. having said that and this communication ability aside, i'm stunned to see him playing politics. he's flat out playing politics. he added if...
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tax cuts for the top 2%. and they are like here is our offer. if you are going to make a deal at least deal something somebody actually wants. >> yeah. >> stephanie: serious plan. they are like they won the election. >> it is totally farfetched and they are like i don't understand why he doesn't want it. >> stephanie: all right. here she is, jacki schechner in the current news. >> good morning. we already know that ashley judd can show a much wider range of emotion that some. she has been taking steps to assess her options when it comes to running for office. she is doing opposition research on herself to see where she might be most vulnerable. mcconnell will be running for his sixth term another option is to run against senator rand powell in 2016. there is a briefings tomorrow on the september 11th attack on our console consoleate attack in benghazi they the talking points were watered down by the cia. it said the notes did contain reference to al-qaeda but the cia took it off. elizabeth warren has won a sp
tax cuts for the top 2%. and they are like here is our offer. if you are going to make a deal at least deal something somebody actually wants. >> yeah. >> stephanie: serious plan. they are like they won the election. >> it is totally farfetched and they are like i don't understand why he doesn't want it. >> stephanie: all right. here she is, jacki schechner in the current news. >> good morning. we already know that ashley judd can show a much wider range of emotion...
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the journal "politico" reported he's urging colleagues to extend middle class tax cuts but allow tax rates for top earners to rise for now. that's what the president wants, but republican leaders have called for raising revenues by closing loopholes and capping deductions. and this morning, house speaker john boehner said he'd reinforced that position to congressman cole. >> you're not going to grow the economy if you raise tax rates on the top two rates. it'll hurt small businesses, it'll hurt our economy, it's why it's not the right approach. we're willing to put revenue on the table as long as we're not raising rates. >> brown: despite the president's talk of changing minds, "politico's" manu raju says that privately, house republicans think they can win this fight. >> right now the republican leadership feels pretty confident that they have most of their folks in line. they all generally support keeping tax rates low for virtually for every single income group. they do not want to see incomes increase for that top tax bracket. >> brown: meanwhile, on the senate floor, minority le
the journal "politico" reported he's urging colleagues to extend middle class tax cuts but allow tax rates for top earners to rise for now. that's what the president wants, but republican leaders have called for raising revenues by closing loopholes and capping deductions. and this morning, house speaker john boehner said he'd reinforced that position to congressman cole. >> you're not going to grow the economy if you raise tax rates on the top two rates. it'll hurt small...
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taxes going up. taxes going up on the affordable care act. billions of dollars of taxes and fees. what's the four-year view look like? what's the plan look like? so let's look at the numbers. how much do we get from deductions? how much do we get from expenditures? how much more do we need? how much does obama care add? what is our growth rate? you know, we don't have a plan. >> yeah. >> and we're throwing these dollar numbers around like if they were nothing. >> i spoke with james clyburn, representative clyburn last hour, about the notion of raising tax rates on the wealthy and not where the president wants them. he said i want it higher. take a listen and then talk about it. >> we know where the president is. and that is 250,000. but there are a lot of democrats who voiced back before the campaign 500,000. some say even a million. all of that's going to be negotiated. the president wants 250. if mr. boehner wants to come and offer something different, i'm sure he'll do that but the president stands at 250. which is below even where i was but he won the election. >> do you think
taxes going up. taxes going up on the affordable care act. billions of dollars of taxes and fees. what's the four-year view look like? what's the plan look like? so let's look at the numbers. how much do we get from deductions? how much do we get from expenditures? how much more do we need? how much does obama care add? what is our growth rate? you know, we don't have a plan. >> yeah. >> and we're throwing these dollar numbers around like if they were nothing. >> i spoke with...
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there is also other taxes like gasoline tax, phone tax. we pay a lot of money to foreign countries that we do not need to. as i think about taxes. guest: this is kind of one of the ideas that republicans talk about, and democrats talk about when we talk about moving to tax reform. it is getting the individual provisions. right now it is a complicated mess. the kind of start over with a simple system that has a few income brackets. easier said than done. that is one of the goals here. host: jim from twitter says -- guest: absolutely. a lot of these credits and deductions, the standard deduction exceeds what you would get, that you just take that. host: the specific credits we have been talking about prompt a question from cindy. guest: yes. you generally have to be working are working outside the home. host: is there an hour requirements? guest: there are a lot of specific requirements. host: kay from richmond, virginia. caller: if somebody is working as hard as they can and making less than $50,000 a year, they count on this refund every y
there is also other taxes like gasoline tax, phone tax. we pay a lot of money to foreign countries that we do not need to. as i think about taxes. guest: this is kind of one of the ideas that republicans talk about, and democrats talk about when we talk about moving to tax reform. it is getting the individual provisions. right now it is a complicated mess. the kind of start over with a simple system that has a few income brackets. easier said than done. that is one of the goals here. host: jim...
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is a massive burden both in terms of tax amount of money you have to pay to the you each year and of course it regularly treat burden trade with other businesses individuals on the continent will always continue whether we're in the you whether we're out of the you remember of the european economic area britain has global trading links we don't really need to be run by brussels and the institutions of the european union telling this country what to do we're big enough to manage our own affairs the economic evidence is really pointing towards if britain were to leave the european union it would be actually help the british economy it would actually help our economy to grow and it would reduce the burden on the british taxpayer. brief look at other news from around the globe now the death toll from time food which is currently battering the philippines has climbed to over one hundred turns up thousands have have fled their homes as the elements rolled across southern and central areas into entire province as rescue teams are working in areas but it's fears the number of casualties will
is a massive burden both in terms of tax amount of money you have to pay to the you each year and of course it regularly treat burden trade with other businesses individuals on the continent will always continue whether we're in the you whether we're out of the you remember of the european economic area britain has global trading links we don't really need to be run by brussels and the institutions of the european union telling this country what to do we're big enough to manage our own affairs...
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is a massive burden both in terms of tax amount of money you have to pay to be you each year and of course it regularly treat burden trade with other businesses individuals on the continent will always continue whether we're in the you whether we're out of the year you remember the european economic area britain has global trading links we don't really need to be run by brussels and the institutions of u.k. and union telling this country what to do we're big enough to manage our own affairs the economic evidence is really pointing towards if britain were to leave the european union it would be actually help the british economy it would actually help our economy to grow and it would reduce the burden on the british taxpayer. he says make a shift in the geography of the middle east is now on the horizon what they're discussing next on the future of an independent kurdish state. fifty feet it's. easy to. see. wealthy british style scientists are not on the tireless. market why not. find out what's really happening to the global economy with much cause or there are no holds barred look at the
is a massive burden both in terms of tax amount of money you have to pay to be you each year and of course it regularly treat burden trade with other businesses individuals on the continent will always continue whether we're in the you whether we're out of the year you remember the european economic area britain has global trading links we don't really need to be run by brussels and the institutions of u.k. and union telling this country what to do we're big enough to manage our own affairs the...
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he voted for reduced rates on capital gains taxes. he voted to keep subsidies for oil and gas companies. that's a big one. but the best part of louie gohmert's crusade to protect the word "lunatic" is this -- >> this administration sent planes and bombs and support to oust gadhafi so that al qaeda and the muslim brotherhood could take over libya. i don't want to make you sick, but i brought an abortion to show you today. and i would just like to conclude with words of my friend, dick morris, who said, i know there's a disagreement on when life begins in america, but for heaven's sake, we ought to agree that life ends when you die. >> now we know why congressman louie gohmert of texas feels so passionately about protecting the word "lunatic." >>> coming up, one of the world's biggest companies is coming back to america. they're not worried about profits. they're worried about the american workforce. we'll explain why, next. [ male announcer ] if you're eligible for medicare, now is a good time to think about your options. are you looki
he voted for reduced rates on capital gains taxes. he voted to keep subsidies for oil and gas companies. that's a big one. but the best part of louie gohmert's crusade to protect the word "lunatic" is this -- >> this administration sent planes and bombs and support to oust gadhafi so that al qaeda and the muslim brotherhood could take over libya. i don't want to make you sick, but i brought an abortion to show you today. and i would just like to conclude with words of my friend,...
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is a massive burden both in terms of tax amount of money you have to pay to the you each year and of course it regularly treat burden trade with other businesses individuals on the continent will always continue whether we're in the you whether we're out of the a you remember of the european economic area britain has global trading links we don't really need to be run by brussels and the institutions of the european union telling this country what to do we are big enough to manage our own affairs the economic evidence is really pointing towards if it were to leave the european union it would be actually help the british economy it would actually help our economy to grow and it would reduce the burden on the british taxpayer. the fiscal cliff of american politics and just what it bodes for all of us that's up next well our lester. download the official ati application to cell phone choose your language stream quality and enjoy your favorites from alzheimer's t.v. is not required to watch all its hear all you need is your mobile device to watch ati any time of the. wealthy british styl
is a massive burden both in terms of tax amount of money you have to pay to the you each year and of course it regularly treat burden trade with other businesses individuals on the continent will always continue whether we're in the you whether we're out of the a you remember of the european economic area britain has global trading links we don't really need to be run by brussels and the institutions of the european union telling this country what to do we are big enough to manage our own...
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if they do not find a compromise before the end of the year, taxes will gun for everyone. danielle notingham reports for the white house. >> reporter: house members left the capitol in the middle of the fiscal fight. they're notue due back -- not due back until next week. but house speaker john boehner is staying behind, ready to sit down and negotiate with the president. we can't sit here and negotiate with ourselves. >> reporter: president obama is rejecting the republican proposal because it does not raise taxes on households making $250,000 a year. the gop is offering to close tax loopholes and limit deductions instead. >> the revenues on the table are going to come from guess who? the rich. >> reporter: they say if the bush-era tax cuts aren't extended for everyone, it will hurt everyone. and they invited people here to make their point. >> reporter: max olson opened an insurance company this year and is concerned he won't be able to add employees. >> you add their payrolls, plus an extra tax amount, then i may not be able to hire them because of it. >> reporter: pres
if they do not find a compromise before the end of the year, taxes will gun for everyone. danielle notingham reports for the white house. >> reporter: house members left the capitol in the middle of the fiscal fight. they're notue due back -- not due back until next week. but house speaker john boehner is staying behind, ready to sit down and negotiate with the president. we can't sit here and negotiate with ourselves. >> reporter: president obama is rejecting the republican...
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is a massive burden both in terms of tax amount of money they have to pay to the e.u. each year and of course its regular burden trade links will always continue will always be buying german cars or french wine and french cheese and and will be selling to them financial services and other goods that we make in britain so that won't change course what will change is that the money that britain has to hand over to the european union that will see so we can drastically reduce that we don't really need to be run by brussels and needs to be appeased you need to this country what to do we are big enough to manage our own affairs. israel has dismissed a un resolution calling on it to open up its nuclear facilities for inspection as a meaningless and mechanical vote the general assembly overwhelmingly back to proposal calling on israel to join the nuclear nonproliferation treaty is or was never officially admitted it possesses atomic weapons although few doubt it is fully armed as all reports it's a story that has all the ingredients and intrusion of a hollywood blockbuster nu
is a massive burden both in terms of tax amount of money they have to pay to the e.u. each year and of course its regular burden trade links will always continue will always be buying german cars or french wine and french cheese and and will be selling to them financial services and other goods that we make in britain so that won't change course what will change is that the money that britain has to hand over to the european union that will see so we can drastically reduce that we don't really...
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is a massive burden both in terms of tax amount of money they have to pay to you each year and of course it's regulatory burden the trade links would always continue will always be buying german cars or french wine and french cheese and and we'll be selling to them financial services and other goods that we make in britain so that won't change course what will change is that the money that britain has to hand over to the european union will cease or we can drastically reduce that we don't really need to be run by brussels and needs to shift of the opinion to country what to do we're big enough to manage our own affairs. some other international news in brief typhoon bhopal which is currently bettering the philippines has claimed more than two hundred eighty lives tens of thousands fled their homes as the storm rolled across the south are in and central areas cutting of point to entire provinces rescue teams are working in the worst hit areas but it's feared the number of casualties will rise the storm is expected to move into the south china sea on thursday. service embassador june a joe
is a massive burden both in terms of tax amount of money they have to pay to you each year and of course it's regulatory burden the trade links would always continue will always be buying german cars or french wine and french cheese and and we'll be selling to them financial services and other goods that we make in britain so that won't change course what will change is that the money that britain has to hand over to the european union will cease or we can drastically reduce that we don't...
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Nov 30, 2012
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threatening to withhold tax funds. he says he is willing to begin peace negotiations. >> egypt's parliament, dominated by conservative muslims approved a new constitution early this morning. the assembly's more moderate members are crying foul. it is sparking another day of protests against president mohamed morsi. morsi's supporters plan to stage a massive demonstration tomorrow. holly williams is in cairo and has been watching this whole crisis unfold. >> reporter: a week after president mohamed morsi gave himself broad new powers that some egyptians say make him a dictator in all but name his islamist allies have rushed to finish a final draft of the country's constitution. it could now be put to a referendum before the end of the year. protests and violent clashes in cities across egypt, president morsi defended his power grab last night on egyptian state tv. he said his new authority is needed to guide egypt through its democratic transition and that he will give up his expanded powers once the country has a new c
threatening to withhold tax funds. he says he is willing to begin peace negotiations. >> egypt's parliament, dominated by conservative muslims approved a new constitution early this morning. the assembly's more moderate members are crying foul. it is sparking another day of protests against president mohamed morsi. morsi's supporters plan to stage a massive demonstration tomorrow. holly williams is in cairo and has been watching this whole crisis unfold. >> reporter: a week after...
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Nov 30, 2012
11/12
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should they raise the capital gains tax, and taxes on dividends, as well? or some combination of all of the above? right now they don't even seem to agree on the amount of money to be raised in revenue. let's listen to what senate majority leader harry reid had to say to explain the democrats' position on this. >> protect middle-class families from the fiscal cliff that they're facing by freezing the tax rates for the first $250,000 all americans' income and letting the rates go up to the same level they were during the clinton administration. republicans know where we stand. we've said it. we've said it. we've said it so many times, the president's said the same thing. >> and so republicans do know where democrats stand. this is certainly this idea of raising taxes on the wealthy is something that the president ran on in the last campaign. but republicans feel like there's been way too much focus on this whole tax side of things, and not nearly enough focus on spending cuts. which are also needed. let's listen to what house speaker john boehner had to say
should they raise the capital gains tax, and taxes on dividends, as well? or some combination of all of the above? right now they don't even seem to agree on the amount of money to be raised in revenue. let's listen to what senate majority leader harry reid had to say to explain the democrats' position on this. >> protect middle-class families from the fiscal cliff that they're facing by freezing the tax rates for the first $250,000 all americans' income and letting the rates go up to the...
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Dec 5, 2012
12/12
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we should do real tax reform. if there are loopholes, there is a loophole for being able to write off your yacht as a second home. let's go after that. we need more revenue and the way you do that is through rapid economic growth. it's the only way to generate the kind of revenue you need and hold it. >> what's the only way you would raise tax rates on the top 2%? >> the number one issue is to grow the economy and creating jobs. i believe that proposal will hurt job creation. the tru millionaires, they have the best accountants and lawyers in america. do whatever you want, they are go to go maximize it. the people who get crushed, the small s corporation who can't afford to do this in the tax code and ends up getting creamed. they have to get the money from somewhere. though can lay off workers, and none of those things are good for our economy. it's about growth. this stuff hurts growth. the president has a tax increase that will help grow the economy. i'm interested to hear about it. >> you would vote against th
we should do real tax reform. if there are loopholes, there is a loophole for being able to write off your yacht as a second home. let's go after that. we need more revenue and the way you do that is through rapid economic growth. it's the only way to generate the kind of revenue you need and hold it. >> what's the only way you would raise tax rates on the top 2%? >> the number one issue is to grow the economy and creating jobs. i believe that proposal will hurt job creation. the...
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Nov 29, 2012
11/12
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tax cut by reenacting the current tax rates for 98% of americans. that kind of logic only makes sense in washington. in my view, we ought to come to some responsible bipartisan broad agreement now and save all of the chaos and save all of the press coverage of the next five weeks. but we may well not get there. it is better for us to go over the cliff than for the democrats to again agree to a deal in which entitlements get slashed and vital supports for low income seniors, for the disabled, for children who are vulnerable in medicaid get taken away. so that's the bigger dynamic. >> bill: amen to that. i'm going to ask you for 30 seconds, we're right up against the clock. you mentioned this word so i have to ask you. will we get filibuster reform? >> i'm optimistic. we've had some very serious conversations in caucus about it. leader reid has fundamentally changed his view from two years ago when we discussed it before. the proposals that the democrats have put on the table for rules reform are modest and responsible. it is essentially this. if you'
tax cut by reenacting the current tax rates for 98% of americans. that kind of logic only makes sense in washington. in my view, we ought to come to some responsible bipartisan broad agreement now and save all of the chaos and save all of the press coverage of the next five weeks. but we may well not get there. it is better for us to go over the cliff than for the democrats to again agree to a deal in which entitlements get slashed and vital supports for low income seniors, for the disabled,...